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Business and Credit Risk Concentration
12 Months Ended
Jun. 30, 2014
Risks and Uncertainties [Abstract]  
Business and Credit Risk Concentration

(9) Business and Credit Risk Concentration

 

A substantial portion of our revenue has been generated under contracts with the U.S. Government. During the year ended June 30, 2014 and 2013, approximately 46% and 66%, respectively, of our revenues were generated by various NASA and U.S. Government contracts or subcontracts. Accounts receivable (net of allowance) totaled $1.3 million at June 30, 2014, of which 91% was attributable to the U.S. Government.

 

The Company maintains funds in bank accounts that may exceed the limit insured by the Federal Deposit Insurance Corporation, or “FDIC.” In October 2008, the FDIC increased its insurance to $250,000 per depositor, and to an unlimited amount for non-interest bearing accounts. The risk of loss attributable to these uninsured balances is mitigated by depositing funds in what we believe to be high credit quality financial institutions. The Company has not experienced any losses in such accounts.